VIRGINIA UPL OPINION 49

Preparation of Deed of Trust by Bank Personnel; Bank House Counsel as Trustee.

It is not the unauthorized practice of law for bank personnel to prepare deeds of trust with the bank as sole beneficiary. Care must be taken to distinguish this situation from former UPL Opinion No. 401, which denied this right to a mortgage brokerage business because such firm was not a necessary party to the deed of trust.

It is not the unauthorized practice of law for house counsel for the bank to be named as trustee in a deed of trust and possess all powers of a trustee there under, where his bank/employer is the beneficiary.

Committee Opinion November 3, 1980

1Note: UPL Opinion No. 40 was revoked by Council on June 11. 1977.Updated: Aug 28, 2006